Franklin Resources, Inc. (BEN) Rating Lowered to Hold at ValuEngine
Franklin Resources, Inc. (NYSE:BEN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
BEN has been the topic of a number of other reports. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, October 3rd. BidaskClub lowered Franklin Resources from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Franklin Resources in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company dropped their target price on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $44.45.
Franklin Resources (NYSE:BEN) opened at $40.48 on Friday. The company has a market capitalization of $22,422.20, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.39 and a beta of 1.75. Franklin Resources has a one year low of $38.54 and a one year high of $47.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 9.20 and a current ratio of 8.75.
Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. sell-side analysts expect that Franklin Resources will post 2.91 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Franklin Resources, Inc. (BEN) Rating Lowered to Hold at ValuEngine” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.watchlistnews.com/franklin-resources-inc-ben-rating-lowered-to-hold-at-valuengine/1713115.html.
In related news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the completion of the sale, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Franklin Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock valued at $1,220,459,000 after buying an additional 318,449 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Franklin Resources by 1.2% during the second quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after purchasing an additional 249,766 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Franklin Resources by 2.4% during the second quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock valued at $463,506,000 after purchasing an additional 246,306 shares during the last quarter. Kiltearn Partners LLP grew its holdings in shares of Franklin Resources by 0.8% during the second quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after purchasing an additional 50,100 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Franklin Resources by 35.9% during the third quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after purchasing an additional 1,288,818 shares during the last quarter. 46.01% of the stock is owned by hedge funds and other institutional investors.
About Franklin Resources
Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.
Receive News & Ratings for Franklin Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Resources Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.